Payless ShoeSource, which filed for bankruptcy protection, said today it is closing nearly 400 stores nationwide, including 10 in Michigan.

The Topeka, Kan.-based retailer, which has more than 4,400 stores worldwide, has been struggling as sales have fallen and online competition has increased.

"This is a difficult, but necessary, decision, driven by the continued challenges of the retail environment, which will only intensify," the shoe seller's CEO, Paul Jones, said. "We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process."

Payless stores is set to close three stores, which it labeled as underperforming, in southeast Michigan:

5616 W. Vernor Hwy., Detroit

2121 N. Monroe St., Monroe

33389 Van Dyke, Sterling Heights

The others slated to close are in Adrian, Alpena, Bay City, Benton Harbor, Big Rapids, Cadillac, and Okemos. The full list of store closings is available on the Payless website.

The company said it was still working out details of when stores would close and liquidation of merchandise would begin. Employees, it added, would be offered positions at nearby stores if they are available. If there are no openings, workers will receive severance pay and eligible benefits to transfer to other jobs.

The shoe chain hinted that there also may be more closings.

The company, which was founded in Kansas in 1956, said Tuesday it has filed for Chapter 11 bankruptcy protection to allow it to reorganize and strengthen its balance sheet, cut its debt load in half and renegotiate store leases. The company said some of its lenders agreed to make up to $385 million available in financing to keep the stores running.